All Airfreight Rates Articles – Page 7
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NewsOceanfreight consolidation set to benefit air cargo in the long term
Tom Crabtree. Source: Air Cargo NewsThe consolidation of the oceanfreight market is set to benefit the air cargo market in the long term as the price differential between the two modes will remain closer than in the past.Speaking at this week's Nordic Air Cargo Symposium, Boeing Commercial Airplanes market analysis ...
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NewsAir cargo demand takes a hit in March but rates stay high
Air cargo volumes in March declined compared with a year earlier as the market was hit by the war in Ukraine, sanctions and lockdowns in China.The latest figures from CLIVE Data Services, which is part of the Xeneta rate benchmarking platform, show that demand for March was 4.5% down compared ...
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InsightsAirfreight customers take hit from Ukraine rates rise
Airfreight customers will pay the price as the Russia-Ukraine war continues and impacts rates.Speaking exclusively to Air Cargo News, The Air Charter Association chief executive officer Glenn Hogben says airlines have been forced to change their Asia-Europe routes to avoid Russian and Ukraine airspace since the later country was invaded, ...
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Insights
Putzger perspective: Are yields too good for change?
Chief financial officers of cargo carriers could be excused for taking a sabbatical, safe in the knowledge that pricing will remain in the stratosphere for some time.The mix of low inventory levels, continuing volatility and the continuing congestion in maritime supply chains with tight capacity was spelling lofty rates already, ...
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News
Rates decline in March despite Ukraine crisis and Covid restrictions
Airfreight rates on major east-west trade lanes declined in March despite the impact of the Ukraine crisis on airfreight and supply chain disruption in Asia caused by Covid.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that in March rates on services from Hong Kong to North America ...
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NewsAir cargo market close to pre-pandemic levels but uncertainty ahead
The global air cargo market continued catching up with pre-pandemic levels in February as freight volumes, capacity and load factors stabilised close to 2019’s performance, with rates also slowly trending downwards.This is according to the latest data from industry analysts CLIVE Data Services, which found chargeable weight in February was ...
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News
Airfreight rates remain elevated in January
Airfreight rates on key trades were ahead of last year in January even though prices were down from the December peak.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that rates from Hong Kong to North America stood at $10.90 per kg in January.This is far above the ...
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News
Omicron set to restrict cargo capacity and keep rates high
The Omicron variant is set to keep air cargo capacity tight and as a result air cargo rates will remain at an elevated level.In the latest Baltic Exchange market update, investment bank Stifel senior analyst Bruce Chan said that the new variant will restrict network capacity due to safety protocols, ...
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News
Transpacific airfreight rates reach new highs
Airfreight rates on the transpacific trade lane have continued to surge since the start of November as peak season demand kicks off and modal shift from ocean continues.The latest figures from the Baltic Exchange Airfreight Index (BAI) show that last week prices on services from Hong Kong to North America ...
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News
Airfreight rates expected to continue to rise
Airfreight rates are expected to continue to rise from already elevated levels despite efforts to ease ocean freight supply chain issues.In the latest Baltic Exchange market update, investment bank Stifel senior analyst Bruce Chan said that efforts to clear US ocean freight backlogs by extending the opening hours of certain ...
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Cathay Pacific hikes transpac BSA prices as market surges
Cathay Pacific Cargo is hiking its block space agreement (BSA) prices on its transpacific and India services in response to current market conditions.In a letter sent out to customers, the Hong Kong-based carrier said it would impose a General Rate Increase (GRI) of HK$18 per kg on the base rate ...
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News
IATA adds 'quote and book' service to rate portal
Airline association IATA has added a ‘quote and book’ function to its rate portal, with IAG Cargo the first cargo group to offer the new functionality.The addition of live rates and the option to book shipments onto IATA's Net Rates platform will accelerate "the distribution of rates to market while ...
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News
Early planning the cause of September rate rise
Airfreight rates on major east-west trade lanes in September rose at a faster rate than last year as companies sought to avoid a peak season crunch.The latest data from the Baltic Exchange Airfreight Index shows that in September prices from Hong Kong to North America increased by 12.7% compared with ...
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News
Tiaca tells air cargo to brace for 'unprecedented challenges' in Q4
Supply chain group Tiaca has warned that the air cargo sector faces "unprecedented challenges" in the fourth quarter.The air cargo organisation pointed out that industry is already under pressure due to the lack of bellyhold capacity, modal shift due to issues in ocean shipping, unpredictable supply chain worker covid restrictions ...
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News
Airfreight rates from Asia reach another high
Airfreight rates out of Asia continued to climb last week as the region catches up following Typhoon Chanthu and the China's Golden Week holiday approaches.Last week, Baltic Exchange Airfreight Index prices from Hong Kong to North America breached the $10 per kg mark for the first time since the index ...
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News
Hong Kong-US air cargo rates index reaches new high for the year
Air cargo prices on services from Hong Kong to North America surged to a new high for the year last week as the peak season kicks in and Golden Week approaches.According to the Baltic Exchange Air Freight Index (BAI), average rates on the route reached $9.70 per kg last week, ...
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InsightsRates stable in July but elevated prices expected into 2022
Image: ShutterstockAirfreight prices on major east-west trade lanes remained stable in July — albeit at a high level — and expectations are that pricing will remain elevated this year.The latest figures from the Baltic Exchange Air Freight Index (BAI) show that in July average airfreight rates from Hong Kong to ...
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NewsAir cargo gains from rising prices in ocean shipping
High ocean freight rates caused by service disruption is helping push forwarders and shippers to use airfreight.In its latest market summary, airline association IATA said that air cargo is benefitting from "exceptionally congested" container shipping supply chains.It pointed out that the cost-competitiveness of air cargo relative to that of container ...
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News
Airfreight market set to get worse before it gets better for buyers
Buyers of airfreight capacity should expect the market to get worse before it gets better, according to Bruce Chan, vice president of global logistics at investment bank Stifel.Writing in the Baltic Exchange monthly market summary, Chan said that belly capacity is not expected to return until 2023 at the earliest.And ...
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Insights
Air cargo rates cool in June for summer slowdown
Air cargo rates settled down in June as the industry entered a seasonal slowdown in demand, but airlines and forwarders appear to be expecting a busy peak season. The latest figures from the Baltic Exchange Air Freight Index (BAI) show that average prices from Hong Kong to North America in ...